\begin{table}[htbp]\centering
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\caption{Balance test (Part 2)}
\begin{tabular}{l*{2}{cc}}
\toprule
                    &\multicolumn{2}{c}{\makecell{Deont.}}&\multicolumn{2}{c}{\makecell{Conseq.}}\\
\midrule
Age                 &       50.44&     \sym{*}&       50.57&     \sym{*}\\
                    &      (0.65)&            &      (0.64)&            \\
Female              &        0.51&            &        0.52&            \\
                    &      (0.02)&            &      (0.02)&            \\
\emph{Household income}&            &            &            &            \\
\hspace{0.2cm} $<$ 1,500&        0.17&            &        0.16&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} 1,500 -- 3,000&        0.41&            &        0.41&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} 3,000 -- 4,000&        0.23&            &        0.21&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} $\geq$ 4,000&        0.19&            &        0.22&            \\
                    &      (0.02)&            &      (0.02)&            \\
\emph{Education}    &            &            &            &            \\
\hspace{0.2cm} University degree&        0.22&            &        0.20&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} A-levels / vocational training&        0.18&            &        0.19&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} Secondary school&        0.38&            &        0.38&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} Secondary general school&        0.23&            &        0.23&            \\
                    &      (0.02)&            &      (0.02)&            \\
\hspace{0.2cm} No degree&        0.00&            &        0.00&            \\
                    &      (0.00)&            &      (0.00)&            \\
\bottomrule
\multicolumn{5}{l}{\footnotesize \parbox{12cm}{\emph{Notes:} Table shows mean values per subgroup and standard errors in parentheses. Stars indicate the significance of the mean values to the average mean values of the other groups (t-tests). \sym{*} \(p<0.1\), \sym{**} \(p<0.05\), \sym{***} \(p<0.01\)}}\\
\end{tabular}
\end{table}
